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3 or 5 year fixed - advice appreciated please!
barginbuster
Posts: 14 Forumite
Hi there!
I wonder of anyone could offer me any advice - I know that it is a bit like taking a stab in the dark where mortgage rates are concerned but it might just help me think through things!
Silly me went and got a Two year fixed which runs out this September. In order to try to beat the predicted July 5th interest rate rise I am looking to get a mortgage reserved in the next week to change over in September.
I have seen a 5 year fixed rate at 5.69 with a fee or 5.84 without which is one of the best rates I have seen at the mo (my current rate is 4.39 :mad: ). However I am just wondering whether it is best to go with a 5 or 3 year???
We are planning on staying in the house for around 5 years anyway.
Also - does anyone know of any rates lower than this for fixed at the mo - I have looked on the best buy tables but seem to get better rates by trawling through the building societies through google!!!
Any advice would be much appreciated!!!;)
Many thanks!
I wonder of anyone could offer me any advice - I know that it is a bit like taking a stab in the dark where mortgage rates are concerned but it might just help me think through things!
Silly me went and got a Two year fixed which runs out this September. In order to try to beat the predicted July 5th interest rate rise I am looking to get a mortgage reserved in the next week to change over in September.
I have seen a 5 year fixed rate at 5.69 with a fee or 5.84 without which is one of the best rates I have seen at the mo (my current rate is 4.39 :mad: ). However I am just wondering whether it is best to go with a 5 or 3 year???
We are planning on staying in the house for around 5 years anyway.
Also - does anyone know of any rates lower than this for fixed at the mo - I have looked on the best buy tables but seem to get better rates by trawling through the building societies through google!!!
Any advice would be much appreciated!!!;)
Many thanks!
:rolleyes: I know I have spelt 'bargain' wrong in my username!
0
Comments
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Yes 5 year rate should be OK, If your looking for the best rate avaliable contact a whole of market broker they will do the trawling for you.0
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Have you considered a 5-year capped?
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0
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